On March 21, 2025, the U.S. Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN) announced that U. S. companies and individuals are no longer required to report their ownership details under the Corporate Transparency Act (CTA). With this interim final rule (IFR), all U. S. based businesses are officially exempt from reporting ownership details to FinCEN.

   However, foreign companies that now meet the definition of a “reporting company” and do not quality for an exemption must still report their ownership by new deadlines. With limited exceptions, the interim final rule still requires most foreign companies to report their ownership details, but it extends the deadline. Foreign entities registered before the IFR publication must file BOI reports within 30 days of that date. Foreign entities registered on or after the IFR’s publication must file within 30 calendar days of receiving notice that their registration is effective.

   This final ruling comes after many months of revolving injunctions and deadlines and nationwide advocacy efforts by state societies and the AICPA.